BBCP Butterfly Strategy
BBCP (Concrete Pumping Holdings, Inc.), in the Industrials sector, (Engineering & Construction industry), listed on NASDAQ.
Concrete Pumping Holdings, Inc. operates across both the United States and the United Kingdom, specializing in concrete pumping and comprehensive waste management solutions. The company provides concrete pumping services under its Brundage-Bone and Camfaud brands, catering to general contractors and concrete finishing companies involved in commercial, infrastructure, and residential construction projects. Additionally, it offers industrial cleanup and containment services, primarily for the construction industry, through its Eco-Pan brand. Beyond its direct services, the firm also rents out concrete pumping equipment, various pans, and containers. As of October 31, 2021, its extensive fleet comprised approximately 820 boom pumps, 70 placing booms, 20 telebelts, 250 stationary pumps, and 90 waste management trucks. Founded in 1983, Concrete Pumping Holdings, Inc. is headquartered in Thornton, Colorado.
BBCP (Concrete Pumping Holdings, Inc.) trades in the Industrials sector, specifically Engineering & Construction, with a market capitalization of approximately $479.2M, a trailing P/E of 52.68, a beta of 0.82 versus the broader market, a 52-week range of 5.555-12.19, average daily share volume of 253K, a public-listing history dating back to 2017, approximately 2K full-time employees. These structural characteristics shape how BBCP stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.82 places BBCP roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. The trailing P/E of 52.68 is on the rich side, which tends to correlate with higher earnings-window IV expansion as the market debates whether forward growth supports the multiple. BBCP pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a butterfly on BBCP?
A long call butterfly buys one lower-strike call, sells two ATM calls, and buys one higher-strike call, paying a small net debit for a defined-risk position that maxes out if the underlying pins the middle strike at expiration.
BBCP snapshot
As of August 14, 2026, spot at $9.60, ATM IV 62.30%, IV rank 13.48%, expected move 17.86%. The butterfly on BBCP below is built from the end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 35-day expiry.
Why this butterfly structure on BBCP specifically: BBCP IV at 62.30% is on the cheap side of its 1-year range, which favors premium-buying structures like a BBCP butterfly, with a market-implied 1-standard-deviation move of approximately 17.86% (roughly $1.71 on the underlying). The 35-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated BBCP expiries trade a higher absolute premium for lower per-day decay. Position sizing on BBCP should anchor to the underlying notional of $9.60 per share and to the trader's directional view on BBCP stock.
BBCP butterfly setup
The BBCP butterfly below is built from the end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With BBCP at $9.60 on that close, the first option leg uses a $9.12 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed BBCP chain at a 35-day expiry; the cross-strike IV skew is reflected directly in the per-leg values rather than approximated. Quantity sizing assumes one contract per option leg (or 100 BBCP shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Call | $9.12 | N/A |
| Sell 2 | Call | $9.60 | N/A |
| Buy 1 | Call | $10.08 | N/A |
BBCP butterfly risk and reward
- Net Premium / Debit
- N/A
- Max Profit (per contract)
- Unbounded
- Max Loss (per contract)
- Unbounded
- Breakeven(s)
- None on modeled curve
- Risk / Reward Ratio
- N/A
Max profit equals the wing width minus net debit times 100 (reached when the underlying pins the middle strike); max loss equals the net debit times 100. Two breakevens at lower-wing plus debit and upper-wing minus debit.
BBCP butterfly payoff curve
Modeled P&L at expiration across a range of underlying prices for the butterfly on BBCP. Each row is one sampled price point from the computed payoff curve; the full curve uses 200 price points internally before being summarized into 10 rows here.
When traders use butterfly on BBCP
Butterflies on BBCP are pinning bets - traders use them when they expect BBCP to settle near a specific level at expiration (often the prior close, a round number, or the max-pain strike) and want defined-risk exposure to that outcome.
BBCP thesis for this butterfly
The market-implied 1-standard-deviation range for BBCP extends from approximately $7.89 on the downside to $11.31 on the upside. A BBCP long call butterfly is a pinning play: it pays maximum at the middle strike if BBCP settles there at expiration, with the wing legs capping both the cost and the maximum loss to the net debit. Current BBCP IV rank near 13.48% sits in the lower third of its 1-year distribution, where IV often re-expands toward the mean; this favors premium-buying structures and disadvantages premium-selling structures on BBCP at 62.30%. As a Industrials name, BBCP options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to BBCP-specific events.
BBCP butterfly positions are structurally neutral / pin (limited-risk, limited-reward); the modeled P&L assumes European-style exercise at expiration and ignores early assignment, transaction costs, dividends paid before expiry on the stock leg (when present), and the bid-ask spread on the listed chain. BBCP positions also carry Industrials sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move BBCP alongside the broader basket even when BBCP-specific fundamentals are unchanged. Always rebuild the position from current BBCP chain quotes before placing a trade.
Frequently asked questions
- What is a butterfly on BBCP?
- A butterfly on BBCP is the butterfly strategy applied to BBCP (stock). The strategy is structurally neutral / pin (limited-risk, limited-reward): A long call butterfly buys one lower-strike call, sells two ATM calls, and buys one higher-strike call, paying a small net debit for a defined-risk position that maxes out if the underlying pins the middle strike at expiration. With BBCP stock at $9.60 on the most recent close, the strikes shown on this page are snapped to the nearest listed BBCP chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are BBCP butterfly max profit and max loss calculated?
- Max profit equals the wing width minus net debit times 100 (reached when the underlying pins the middle strike); max loss equals the net debit times 100. Two breakevens at lower-wing plus debit and upper-wing minus debit. For the BBCP butterfly priced from the end-of-day chain at a 30-day expiry (ATM IV 62.30%), the computed maximum profit is unbounded per contract and the computed maximum loss is unbounded per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a BBCP butterfly?
- The breakeven for the BBCP butterfly priced on this page is no defined breakeven on the modeled curve at expiration, derived from the end-of-day chain's premiums. Breakeven is the underlying price at which the strategy's P&L crosses zero ignoring transaction costs and assignment risk. The BBCP market-implied 1-standard-deviation expected move in the same options snapshot is approximately 17.86%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a butterfly on BBCP?
- Butterflies on BBCP are pinning bets - traders use them when they expect BBCP to settle near a specific level at expiration (often the prior close, a round number, or the max-pain strike) and want defined-risk exposure to that outcome.
- How does current BBCP implied volatility affect this butterfly?
- BBCP ATM IV is at 62.30% with IV rank near 13.48%, which is on the low end of its 1-year range. Premium-buying structures (long call, long put, debit spreads) are relatively cheap in this regime; premium-selling structures collect less credit per unit risk.